5 Places To Get Instant Loans Straight To Your Phone In Kenya

Mobile Money

Are you short on cash and need a quick loan? Well, there’s no need to worry. There are several ways you can acquire instant loans on your phone by simply making use of various apps. Below are 5 apps that will enable you to get an instant loan.

1. Tala
2. Branch
3. Saida
4. Mshwari
5. KCB Mpesa

Download size
5.97 MB
Prerequisites
Android Device
Safaricom Mpesa Number
How it works
Download the app.
Register as a new customer.
Data from your phone is used to determine whether you qualify for a loan.
If you qualify for a loan, you are assigned a loan limit.
You can now request a loan.
Loan Limit
Maximum  of 50,000
Interest Rate
Flexible
Payment Period
Varies from 1 week to 1 month
Penalty
7 day grace period is given after the loan repayment period elapses.
5% interest is charged on the outstanding amount during the grace period. 
Download size
2.76 MB
Prerequisites
Android Device
Active M-Pesa Account
Active Facebook Account
Facebook name should be the same with M-Pesa registered name.
How it works
Download the app.
Sign up using your Facebook account.
You can now request a loan.
Loan Limit
From 250 to a Maximum  of 50,000
Interest Rate
Flexible
Payment Period
Varies from 1 month to 1 year
Penalty
When the payment period elapses, you can’t borrow money for the next 7 days.
Your loan limit will be reduced. 
Download size
5.97 MB
Prerequisites
Android Device
Safaricom Mpesa Number
How it works
Download the app.
Register as a new customer.
Data from your phone is used to determine whether you qualify for a loan.
If you qualify for a loan, you are assigned a loan limit.
You can now request a loan.
Loan Limit
Maximum of 50,000
Interest Rate
Flexible
Payment Period
Varies from 1 week to 1 month
Penalty
7 day grace period is given after the loan repayment period elapses.
5% interest is charged on the outstanding amount during the grace period. 
Mshwari
Download size
N/A
Prerequisites
Android Device
Safaricom Mpesa Number
How it works
Download the app.
Register as a new customer.
Data from your phone is used to determine whether you qualify for a loan.
If you qualify for a loan, you are assigned a loan limit.
You can now request a loan.
Loan Limit
Maximum of 50,000
Interest Rate
Flexible
Payment Period
Varies from 1 week to 1 month
Penalty
7 day grace period is given after the loan repayment period elapses.
5% interest is charged on the outstanding amount during the grace period. 
KCB MPesa
Download size
N/A
Prerequisites
Android Device
Safaricom Mpesa Number
How it works
Download the app.
Register as a new customer.
Data from your phone is used to determine whether you qualify for a loan.
If you qualify for a loan, you are assigned a loan limit.
You can now request a loan.
Loan Limit
Maximum of 50,000
Interest Rate
Flexible
Payment Period
Varies from 1 week to 1 month
Penalty
7 day grace period is given after the loan repayment period elapses.
5% interest is charged on the outstanding amount during the grace period. 
These apps are a great way to access cash when you need it. Each app has its own way of determining your loan limit. However, there are several things you can do to increase your loan limit so that you can qualify for higher loans.
What are your go to apps when you want to get an instant loan?

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